Coal production is expected to go unprofitable in the near future., experts say. At the same time, miners will go extinct as a profession, Bloomberg predicts. It’s all about the so-called green energy, or alternative energy. Mostly, green energy implies the energy generated by solar and wind power.
The experts predict that the cost of generating energy from solar and wind power will reach parity with the energy generated by coal. At the same time, they assume that the share of the energy generated by coal will be reduced by 80-90% in a matter of 20-25 years.
Previously, solar and wind power used to be rather costly when it comes to producing energy. However, over the last few years, green energy has become much cheaper. If instance, the cost of the energy generated by solar and wind power has dropped by as much as 75% since 2009. By the end of the decade, it is expected to go down by more than 60%.
The cost of alternative energy in China and India is expected to go even. By the way, these are the two biggest producers of alternative energy in the world to date.
The experts are sure that even the energy revolution in the USA announced by Donald Trump (this is rather a counter-revolution in the global energy sector) won’t deter the global tendency aimed at replacing conventional energy sources with green ones. Anyways, the experts expect the consumption of coal in the United States to drop by 50% over the next 20-25 years.
As wind and solar energy are expected to gain popularity worldwide, this will probably boost the production of lithium-ion batteries, which can be used in production as well as for household purposes. Today, green energy accounts for just 125 of the global energy production. In 20-25 years, it will increase all the way up to 50% and even higher.
